Feb. 3, 2025

Trucker & Business Issues

Trucker & Business Issues

Trucker & Business Issues, 1099-NEC and all difernt types of 1099s to be filed each year, who receives a 1099 and why. Business issues, Lack of Planning, Lack of Funds, Lack of time, Finding good employees, not making estimated tax payments, Type...

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Season 2

Trucker & Business Issues, 1099-NEC and all difernt types of 1099s to be filed each year, who receives a 1099 and why. Business issues, Lack of Planning, Lack of Funds, Lack of time, Finding good employees, not making estimated tax payments, Type of business, S-corp, C-Corp, Sch C business, Partnership. Using worng information source such as Truckstop Bookkeeping, Fuel Stop Tax preparer, Bar CPA. #Small Business, #Trucker # OwnerOperator

Tax Talk 4 U is broadcast live Mondays at 10AM ET and Music on W4CY Radio (www.w4cy.com) part of Talk 4 Radio (www.talk4radio.com) on the Talk 4 Media Network (www.talk4media.com). Tax Talk 4 U is viewed on Talk 4 TV (www.talk4tv.com).

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WEBVTT

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The topics and opinions express in the following show are

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solely those of the hosts and their guests and not

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those of W FOURCY Radio. It's employees are affiliates. We

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make no recommendations or endorsements for radio show programs, services,

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or products mentioned on air or on our web. No

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liability explicitor implies shall be extended to W FOURCY Radio

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or its employees are affiliates. Any questions or comments should

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be directed to those show hosts. Thank you for choosing

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W FOURCY Radio.

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Farry G.

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Fowler EA brings you tax talk for you right here

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on W four CY Radio and Talk for TV. As

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an enrolled agent and a national leader in tax resolution

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as well as trucker bookkeeping and tax planning. With over

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thirty years of experience, Barry will break down taxes, book keeping,

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tax planning, and tax relief for individuals and businesses just

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like you. So let's have some tax talk for you

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with your hosts.

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Barry G. Good morning USA. I kind of like that line.

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It's it's always a great morning to come to work

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and be able to get on the air and talk

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about things that affect truckers small businesses every day. You know,

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people and figuring out how to save the most money.

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Make sure you're claiming the right tax deductions. Make sure

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that you're getting every deduction possible when you're filing your taxes,

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when you're doing your bookkeeping, whether you're self employed, whether

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you're run a small business, whether you're a trucker, or

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just even if you're a W two employee and you're

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trying to find ways to save money on taxes. You know,

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there's a lot of different tax schemes out there, and

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sometimes you got to be careful of of what somebody's promote.

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I think sometimes they're just trying to get money from

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you to see what is out there for you to

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do to make the most of your deductions. We had

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some big news this weekend and it's kind of twofold

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one for the nation. And you know, President Trump has

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talked about tariff's tariffs. Tariffs tariffs good bad, sometimes ugly,

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sometimes they're needed, just a level of the playing field.

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A lot of times between what somebody is selling their

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goods into this market, whether they're supported by their government

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to lower the price, which then affects the price of

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the goods we have here because you know, Let's just

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take China for example, and they're sending goods here to

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the US, and it's a communist country and so therefore

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everything in the government is supported by the government. And

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so if they're able to discount and lower the cost

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of goods they're transporting here to the US and selling

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them while they're undercutting our market here for the goods

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that are produced in a capital environment. And so when

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you're dealing with capitalism and you're dealing with communism, you know,

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it kind of puts them on two different playfield playing fields.

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So this kind of levels the playing field out. Also,

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you know, you talk about wage differences. You know, if

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you've got you know, sometimes unions involved, and they're paying

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a very high rate, and therefore, you know, the cost

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of goods that we're manufacturing here are going to have

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a higher cost than the costs coming in from let's

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say China, where they're have their wages at a lower level.

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So it's kind of leveling the playing field. And sometimes

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that can be you know also some of our trading

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partners like Canada and Mexico. Uh, kind of leveling the

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playing field. Does it cost you and I more money? Yes,

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and it would but in the long run, it should

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help to level the playing field for the companies here

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in the USA and for everybody across the board. So

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why not, you know, help bring everybody's wages up and

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you know, make every product competitive to where it's not undercut,

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you know, one way or the other. So we kind

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of got to watch that, you know, Trump says, you know, hey,

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it's you know, you know, we're gonna have a little

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bit of pain. But you know, we've kind of got

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to look at this to see, you know, what makes

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sense as we go. The other good news Trucker tax

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tools and if you go to Trucker tax tools, that

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kind of if you're a trucker, Truncker tax tools bookkeeping

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taxes for the trucking industry. They had a board meeting

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this weekend and it was really good board meeting that

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we had, and we're coming out with a new basic

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bookkeeping plan just for you. I mean, this is a

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low cost bookkeeping only twenty five dollars a week is

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where it starts. Call get in. Let's get you started

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looking at how truck of tax fules can save you

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money on your bookkeeping and get you the lowest cost

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plan out there on the market, and that number is

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eight seven seven six six two four seven seven eight

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seven seven nine six six two four seven seven. Hey,

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this is a good thing to get into and go.

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We got questions coming in. I love questions. Is really good.

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Alex asked if we can explain to ten ninety nine who,

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what needs them, and why are they different than a

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W two. Well, let's start with why they're different than

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a W two. W two is when you are an

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actual employee of a company. They withhold Social Security, Medicare,

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Federal income tax, State income tax from your check, and

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the company matches social Security and medicare on your payroll,

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and so basically you're then an employee. They dictate ours who, where, why,

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and win to you ten ninety nine. You're a contractor

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your self employee, so you're going to get a ten

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ninety nine NEC. That ten ninety nine NEEC ends up

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being on Schedule C. You're going to pay your self

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employment taxes, social Security and medicare both sides, so that

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seven and a half percent you pay basically out of

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your paycheck. As a W to employee, you're going to

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pay both halfs so you're going to pay basically fifteen

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point three percent for Social Security and Medicare on your

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net income from your business. Now, if you're running an intent,

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a self employed business or your contractor, you're getting the

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ten ninety nine, you're going to be able to deduct

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all your business expenses. So you know you're going to

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be trying to find every expense that relates to business

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that is ordinary and necessary in business. And therefore you

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take all those deductions, and then whatever the net income is,

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you're going to have Social Security, Medicare, the self employment

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tax applied to that. Then that number comes over, Your

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net income from your business comes over to your ten forty,

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and you're going to be subject to Federal income tax

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on the remaining amount less deductions like half of the

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self employment tax, maybe self employed health insurance if you've

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got health insurance, and other tax deductions like your standard

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deduction and stuff you're going to have on your ten

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forty that you get to deduct. We got a question

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that came in from Salm and another one from Penny

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Sale says, does this information only apply to the trucking

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industry or all businesses? We're going to be talking about

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all businesses. We'll talk about some deductions that are specific

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to the trucking industry. When we start talking about tariffs,

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it's going to be imported goods. Those are goods coming

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in from China, Mexico, Canada, or any other country that

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is out there. Those tariffs are applied, and that's going

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to be applied to the companies that are exporting them

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or importing them into the United States. So those don't

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necessarily affect the trucking industry other than it may slow

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some of the goods down because the cost of the

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goods itself. Companies may not order the goods coming from

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let's say Mexico, China, or Canada. So it could slow

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a little bit down in the trucking industry, but don't

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see an immediate impact in any industry, you know, right

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right off the bat. And you know, usually what we've

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seen is Trump wins in these wars, and especially when

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we're dealing with trade wars. So we hope that continues.

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He's got a pretty good track record in his art

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of negotiation and he's done fairly well. You can see

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that through his dealings with let's say I think it

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was a Columbia or one to other countries out there

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where he was taking the illegals back and going from there.

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So we'll see what happens when all this stuff goes on.

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But like I've said, if you're self employed, whether you're

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in the trucking industry, whether you're a consultant, whether you're

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running a small business out there, you should be depending

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on who you're doing work for, receiving a ten ninety

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nine for any income they give you, those will not

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apply until they've paid you six hundred dollars as an

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independent contractor you as a self employed individual or a

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small business. If you pay an individual six hundred dollars

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or more, you would issue them a ten ninety nine

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NEC as well, So non employee compensation going out there.

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There's many other forms of ten ninety nine's that are

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out there. Penny asked a question on those, and we're

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going to get into those different versions of the ten

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ninety nines when we come back right after this break.

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We have only scratched the surface of today's show. Please

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stand by as Barry G. Fowler will be right back

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with tax talk for you. If you owe the IRS

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or are going through an IRS audit, don't go at

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it alone. Called taxation solutions tax relief at eight eight

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eight nine three zero one zero one. We are your

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solution for IRS debts, audits, back taxes, garnishments, leans and levies.

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Whether you're an individual or business, you need a solution

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and a strong aggressive tax resolution. Don't let the IRS

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walk all over you. Stop the IRS now call eight

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eight eight nine three zero one zero one six or

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go to Taxationsolutions dot net now for a free no

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obligation consultation. Let's get back to tax stock for you

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with more tax stock once again. Here's your host, Barry G. Fowler.

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Hey, getting into questions that have been asked Alex to

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further explain who needs them and why. Well, the IRS

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requires it. If you've paid an individual money, you need

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to issue them a ten ninety nine. Now, there are

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other ten ninety nine's that are out there. Penny was

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asking what are the different types of ten ninety nine's

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and what are the differences. Well, you get probably about

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ten different ten ninety nine's out there. You got a

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ten ninety nine B, which is the proceeds from broker

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and barter exchange transactions. These are usually issued by your

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brokerage companies that are out there. But if you're doing

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some barter transactions and somebody's reporting it, they would do

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it on a ten ninety nine B as well. Ten

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ninety nine DIV. Dividends and distributions, So if you've invested

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in let's say Exxon, and you've received dividends, they're going

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to issue ten ninety nine div. Also could be part

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of just your brokerage account, and they would issue that

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NINEV with your brokerage statement as well. Banks or anybody

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else you would have received interest from, would do a

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ten ninety nine at your interest income. Banks only generally

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issue this if it's over ten dollars. Ten ninety nine R.

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These are your distributions from your retirement accounts, pensions, annuities,

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profit sharing plans, insurance contracts are all going to issue

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these ten ninety nine rs. Some of these might be taxable,

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some just could be a rollover, So you've got to

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watch the codes that are on those ten ninety nine's

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are so when you're going through and reporting it, you're

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going to want to make sure you report it correctly.

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Ten ninety nine Q. Those are going to be payments

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from qualified educational programs five twenty nine accounts, stuff like that.

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Ten ninety nine S is going to be proceeds from

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real estate transactions, So if you saw your house recently,

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you should be getting this ten ninety nine S and

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then ten ninety nine miscellaneous. It's it's kind of a

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catch all. You're going to see royalties on their rental

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income that's paid to you if you got paid for

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rental house. And of course the ten ninety nine NEEC,

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which is the non employee compensation ten ninety nine K.

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These are payments from third party network transactions. So if

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you're accepting credit cards in your business, you're going to

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get a ten ninety nine K from your service provider

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out there. Ten ninety nine G is going to be

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various government payments. Those those payments, you know, when you've

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paid in your taxes, maybe got reimbursed for overpaid taxes,

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they may send you the ten ninety nine G and

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00:15:58.919 --> 00:16:02.200
then ten ninety nine which is cancelation of debt. So

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when a company cancels your debt, it's income to you.

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Now there's sometimes ways to get around it, but it's

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considered to be income as well. So we had another

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question come in Jake, what if your company is producing

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things for another company, is this ten ninety nine or

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another form, it's going to be ten ninety nine. They

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00:16:29.679 --> 00:16:32.919
are going to send you that ten ninety nine in EC.

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Now it depends on how your company is structured as well.

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If you are an inc. They may not issue that

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00:16:39.559 --> 00:16:44.240
ten ninety nine, But more and more companies are producing

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00:16:44.279 --> 00:16:47.759
and sending out ten ninety nine. Is regardless of how

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you are structured, because at one point, the IRS was

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starting to get to the point where everybody was going

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to be issued ten ninety nine for any payments that

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were sent out. The I R S loves going through

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and doing matching. Believe it or not. Their system has

237
00:17:09.440 --> 00:17:13.240
gotten so sophisticated that you know it goes through and

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matches what your income is on schedule, see to what

239
00:17:17.720 --> 00:17:22.240
they've received for ten ninety nine. NDCs same thing like

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00:17:22.480 --> 00:17:28.680
rental income or royalties, dividends, brokerage stuff is all now

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matched these days. And then when something doesn't match, guess

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00:17:34.319 --> 00:17:39.079
what the system generates and sends out a letter. So

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00:17:39.559 --> 00:17:41.119
you know you're going to want to make sure that

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00:17:41.640 --> 00:17:45.559
you know what you've got coming in matches or exceeds

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what the IRS has. Now there's income you receive that

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00:17:49.680 --> 00:17:55.920
don't come on ten ninety nine's sometimes obviously that income

247
00:17:55.960 --> 00:17:59.279
is supposed to be reported as well. So if you've reported,

248
00:18:00.119 --> 00:18:02.240
say one hundred and fifty thousand dollars in gross sales,

249
00:18:02.240 --> 00:18:05.799
but you only received one hundred thousand dollars in ten

250
00:18:05.880 --> 00:18:12.039
ninety nine a NEECs, you're probably good because your number

251
00:18:12.079 --> 00:18:15.880
has succeeded with the irs received in ten ninety nines. However,

252
00:18:15.960 --> 00:18:19.880
if you've only reported seventy five thousand and you got

253
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ten ninety nine for one hundred thousand, you got a

254
00:18:22.039 --> 00:18:25.279
twenty five thousand dollars difference, and they're probably going to

255
00:18:25.319 --> 00:18:28.279
send you this letter saying, hey, you've got a problem

256
00:18:28.839 --> 00:18:31.880
and you have to explain it now. Maybe you only

257
00:18:31.920 --> 00:18:36.519
receive seventy five thousand, so you may have to go

258
00:18:36.599 --> 00:18:39.119
back and explain that, hey, this is all you received.

259
00:18:39.279 --> 00:18:42.000
You better be ready to prove it. Better be able

260
00:18:42.039 --> 00:18:45.480
to show your bank statements, to be able to show

261
00:18:45.480 --> 00:18:47.400
this as the amount of money come through. Now, if

262
00:18:47.440 --> 00:18:52.359
you're in the trucking industry, the trucking company's going to

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send you a ten ninety nine for your gross trucking income,

264
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even if they deduct for your settlements your truck payments insurance, scales, tools,

265
00:19:08.279 --> 00:19:13.119
anything else they're deducting from your settlement statements. Those are

266
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expenses for you, and you should be recording them expenses

267
00:19:16.119 --> 00:19:20.200
in your bookkeeping and in your financial statements and showing

268
00:19:20.319 --> 00:19:26.400
the total amount of gross trucking income as your income.

269
00:19:27.079 --> 00:19:31.079
So you want to make sure you have your items

270
00:19:31.119 --> 00:19:37.200
correct on your taxes when you're going through and preparing taxes.

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Some of the things we wanted to get into talking

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about is some of the challenges that affect small business owners,

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owner operators, truck drivers. You know, if you're running a business,

274
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and it doesn't matter whether you're a owner operator, truck driver,

275
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you're consultant, maybe you're a business owner that does manufacturing

276
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or retail. These challenges are kind of common amongst everybody,

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and it comes down to sometimes, you know, lack of fund.

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You know, nothing can hold you back like lack of money.

279
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You know, that's both business and personal. Money can create

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problems not just for the business, but also at home.

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And this is sometimes even more true for you as

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a as a small business owner. You know, large businesses

283
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most of the time have enough cash flow to keep

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up with payroll and keep the lights on and keep going.

285
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You as a small business owner operator, you know, sometimes

286
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that cash flow gets tight and it's harder to sometimes

287
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keep that truck on the road, keep that those doors open,

288
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much less higher, one more employee. If somebody fails to

289
00:21:01.559 --> 00:21:06.119
pay you timely, it you know, it rolls downhill from there.

290
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You know, everything else becomes harder and harder as you go.

291
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So sometimes cash flow, sometimes you end up moving towards

292
00:21:14.720 --> 00:21:18.720
factoring invoices, and then again that affects and cash flow

293
00:21:19.039 --> 00:21:22.000
because they're taking money from you. You may sound like

294
00:21:22.400 --> 00:21:27.400
a really small percentage when they're taking three percent, but

295
00:21:27.440 --> 00:21:31.160
they're taking three percent to factor an invoice for thirty

296
00:21:31.200 --> 00:21:36.000
sixty or ninety days, and sometimes that's a higher percentage

297
00:21:36.039 --> 00:21:38.200
than you actually are thinking that it's really out there

298
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when you're doing it on a consistent basis, and sometimes

299
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it's addictive. So you've gotten into that situation where you've

300
00:21:47.200 --> 00:21:51.559
got to continue factoring, and sometimes you just got to

301
00:21:51.599 --> 00:21:55.799
wean yourself off factoring to do it. And this goes

302
00:21:55.839 --> 00:22:00.640
for any business out there. You know, there's there's many

303
00:22:00.680 --> 00:22:07.000
stories out there of businesses and especially small businesses failing

304
00:22:07.039 --> 00:22:10.400
in those first you know, year two, three, five years,

305
00:22:11.640 --> 00:22:13.480
go back and listen to one of our other podcasts.

306
00:22:13.559 --> 00:22:16.640
Go to tax Talk for you dot com and go

307
00:22:16.759 --> 00:22:21.279
and look for the podcast on business planning. Hey, you're

308
00:22:21.359 --> 00:22:25.240
in business. Maybe you've already started, but it's not too

309
00:22:25.359 --> 00:22:28.759
late to get involved in putting together a strategic plan

310
00:22:28.880 --> 00:22:31.920
for your business. How you're going to grow, how are

311
00:22:31.920 --> 00:22:35.039
you going to achieve the things and you want you

312
00:22:35.200 --> 00:22:38.799
desire out of your business. So go back to tax

313
00:22:38.880 --> 00:22:45.079
Talk for you dot com and see the podcast on

314
00:22:45.440 --> 00:22:49.319
business planning. It's a great way to get started or

315
00:22:50.000 --> 00:22:54.960
recommit yourself to planning in the business. Hey, something else

316
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that affects you know, small business owners. Lack of time.

317
00:23:00.480 --> 00:23:02.279
If you're an owner operator, you know what I mean,

318
00:23:03.400 --> 00:23:07.440
you're on the road constantly and you don't have the

319
00:23:07.480 --> 00:23:09.799
time to bookkeeping, you don't have time to look at

320
00:23:09.880 --> 00:23:13.039
doing taxis, you don't have time to sometimes you even

321
00:23:13.079 --> 00:23:15.000
spend the time with your family because you've got to

322
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be on the road keeping that truck moving. If you're

323
00:23:17.559 --> 00:23:20.599
sitting at home doing nothing for a week, that's a

324
00:23:20.599 --> 00:23:25.920
week's lost revenue. So lack of time because you're working

325
00:23:26.680 --> 00:23:31.960
your business or you're working in the business, you know,

326
00:23:32.079 --> 00:23:38.440
and sometimes you're doing both and it takes away from

327
00:23:38.519 --> 00:23:42.839
time from doing planning, making sure you've got your collections,

328
00:23:43.200 --> 00:23:46.200
especially if you're an owner operator with your own authority

329
00:23:46.200 --> 00:23:48.559
out there and you're doing invoicing, you got to have

330
00:23:48.559 --> 00:23:51.680
somebody out there doing invoicing for your collecting invoices for you.

331
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Otherwise you're rest resorting to factoring and you're losing you know,

332
00:23:56.000 --> 00:23:58.880
a three percent on every invoice or two percent on

333
00:23:58.920 --> 00:24:02.279
every invoice or whatever they're charging you with the factory

334
00:24:02.319 --> 00:24:05.200
company that you're out there, and if they're full recourse

335
00:24:05.240 --> 00:24:09.920
and they don't pay, guess who pays you. So you

336
00:24:10.079 --> 00:24:12.039
kind of got to make sure you've got the time

337
00:24:12.079 --> 00:24:14.359
to deal with the type of business that you're in.

338
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And sometimes it's not feasible to hire somebody to go

339
00:24:19.240 --> 00:24:25.480
out there and do collections to do invoicing for you.

340
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You know, sometimes there's other opportunities and ways of doing

341
00:24:29.359 --> 00:24:31.400
it that's going to save you money and save you

342
00:24:31.480 --> 00:24:36.640
time down the road. But it's all impact for your

343
00:24:36.759 --> 00:24:42.000
business while you're running your business, and so you need

344
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to be really aware of that. And we come back

345
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right after this break, we'll talk about some of the

346
00:24:48.359 --> 00:24:51.079
other things that affects you in small business. We're right

347
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back after this.

348
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We have only scratched the surface of today's show. Please

349
00:24:57.079 --> 00:25:00.279
stand by as Barry G. Fowler will be right back

350
00:25:00.440 --> 00:25:06.359
with tax talk for you. As an owner operator, you

351
00:25:06.519 --> 00:25:10.079
already spend too much time away from your family. Trucker

352
00:25:10.119 --> 00:25:13.480
Tax Tools handles all your bookkeeping and taxes. No matter

353
00:25:13.519 --> 00:25:16.200
what level trucker you are. Life on the road can

354
00:25:16.240 --> 00:25:19.839
be taxing, but that doesn't mean that your wallet or

355
00:25:19.960 --> 00:25:23.799
time with your family should suffer. Trucker Tax Tools makes

356
00:25:23.880 --> 00:25:27.640
your life run smoothly. Go to Trucker tax Tools dot

357
00:25:27.680 --> 00:25:30.160
com for a free guide that will give you the

358
00:25:30.319 --> 00:25:34.799
tools to never worry about your taxes again. Call Trucker

359
00:25:34.880 --> 00:25:39.000
Tax Tools eight seven seven nine sixty six two four

360
00:25:39.359 --> 00:25:43.079
seven seven or go to Trucker tax Tools dot com

361
00:25:43.119 --> 00:25:49.559
now and let the experts keep you trucking. Let's get

362
00:25:49.599 --> 00:25:52.640
back to tax stock for you with war tax Stock

363
00:25:53.200 --> 00:25:56.200
once again, here's your host, Barry G.

364
00:25:56.440 --> 00:26:04.160
Faller Hey, speaking of keeping on truck and again go

365
00:26:04.160 --> 00:26:09.039
to Trucker tax Tools dot com. Look us up, take

366
00:26:09.039 --> 00:26:13.039
a look at what we're offering now. We just finished

367
00:26:13.119 --> 00:26:18.519
having a great board meeting this weekend figuring out what

368
00:26:18.559 --> 00:26:24.359
we're going to do for you. The trucker owner operator

369
00:26:24.480 --> 00:26:28.839
on the road with the lack of time, sometimes the

370
00:26:28.920 --> 00:26:31.359
lack of money. But you need to find every deduction.

371
00:26:31.440 --> 00:26:33.400
You need to figure out how to save the most

372
00:26:33.440 --> 00:26:38.799
money on taxes, reducing that sold security and medicare, self

373
00:26:38.799 --> 00:26:42.319
employment tax, reducing those federal income taxes, putting more money

374
00:26:42.359 --> 00:26:46.079
in your pocket to keep you on the road, to

375
00:26:46.319 --> 00:26:48.839
keep you from having that lack of funding. Maybe you

376
00:26:48.960 --> 00:26:55.559
need as well. Has some great new basic plans out there,

377
00:26:55.599 --> 00:26:59.359
book keeping only starting from just twenty five dollars a

378
00:26:59.359 --> 00:27:05.519
week to make your life easier while you're on the road.

379
00:27:06.440 --> 00:27:09.359
A couple other things to talk about small businesses. Do

380
00:27:09.400 --> 00:27:14.240
you know there are over thirty million small businesses just

381
00:27:14.359 --> 00:27:18.920
here in the United States and it accounts for over

382
00:27:20.200 --> 00:27:26.279
forty six percent of all jobs in the United States.

383
00:27:27.440 --> 00:27:32.039
So whopping told I wasn't even aware of those numbers

384
00:27:32.559 --> 00:27:40.440
right there. So sometimes you kind of really think as

385
00:27:40.480 --> 00:27:44.519
a small business person, whether you're maybe retail or restaurant

386
00:27:44.680 --> 00:27:48.119
or even a trucking company looking to hire people, you

387
00:27:48.160 --> 00:27:53.759
have trouble finding good employees and that's sometimes really difficult today.

388
00:27:54.079 --> 00:27:55.640
You know, people want to get out of the house,

389
00:27:55.640 --> 00:27:59.079
do they want to work? Some people have found it

390
00:27:59.240 --> 00:28:02.720
easier than Hey, they just want remote jobs and knowing

391
00:28:02.880 --> 00:28:06.079
that they only work maybe sixty percent of the time.

392
00:28:07.839 --> 00:28:14.200
So sometimes finding those qualified, hard working employees isn't easy.

393
00:28:14.839 --> 00:28:22.400
And sometimes the demands of having a employee become very

394
00:28:23.519 --> 00:28:27.000
stringent on the company and it becomes very difficult because

395
00:28:27.000 --> 00:28:29.160
now all of a sudden, maybe you're doing having to

396
00:28:29.200 --> 00:28:33.720
do payroll pay, payroll taxes withhold federal income tax from

397
00:28:34.119 --> 00:28:37.680
from the employees. Maybe you've got to pay them extra benefits.

398
00:28:37.720 --> 00:28:40.680
Maybe you're trying to pay health care or do a

399
00:28:40.720 --> 00:28:44.319
four h one K from These are all costs of

400
00:28:44.400 --> 00:28:48.680
running this business and having these employees. And sometimes people

401
00:28:48.680 --> 00:28:51.960
don't understand when you hire your first employee that money

402
00:28:52.000 --> 00:28:58.440
comes directly out of the owner's paycheck bottom line, comes

403
00:28:58.440 --> 00:29:02.920
out of that owner's take home pay until that employee

404
00:29:03.000 --> 00:29:06.119
can support himself because they brought in more business or

405
00:29:06.119 --> 00:29:09.000
you're able to expand the business to cover their salary.

406
00:29:09.000 --> 00:29:10.960
And then you bring in the second or the third,

407
00:29:11.480 --> 00:29:15.559
or the fourth or the fifth employee. Each added employee

408
00:29:16.880 --> 00:29:19.799
until that employee can support itself by the growth of

409
00:29:19.839 --> 00:29:24.000
the business is an expense directly out of the owner

410
00:29:24.640 --> 00:29:30.279
or owner's pocket and so finding those good employees and

411
00:29:30.319 --> 00:29:34.039
then getting the business to expand is the hard thing.

412
00:29:35.000 --> 00:29:39.240
And sometimes another difficulty that comes with this is the

413
00:29:39.319 --> 00:29:43.880
balancing growth and quality when you're getting the quality employee

414
00:29:44.319 --> 00:29:47.279
to be able to get the quality growth you want

415
00:29:47.400 --> 00:29:52.160
or need in your company. And it's something all small

416
00:29:52.200 --> 00:29:56.000
businesses face. You know, we deal with trucking companies and

417
00:29:56.240 --> 00:29:58.839
at truck or tax tools, and we've got people in

418
00:29:58.880 --> 00:30:02.279
this industry that decide they want to bring on more

419
00:30:02.319 --> 00:30:05.279
than one truck, two trucks, three trucks, four trucks down

420
00:30:05.319 --> 00:30:09.839
the road. And it's finding that owner operator, that employee

421
00:30:09.920 --> 00:30:13.640
that you want to bring on that can handle driving

422
00:30:13.720 --> 00:30:19.279
that truck. And if you're not effective at vetting those

423
00:30:19.319 --> 00:30:22.279
employees that are going to be driving those trucks for you,

424
00:30:23.240 --> 00:30:28.000
sometimes you get a truck driver that maybe has a

425
00:30:28.079 --> 00:30:34.480
drug problem or drinking problem, or you know, can't drive

426
00:30:34.559 --> 00:30:38.519
and has had accidents. Check them out, do your background check.

427
00:30:38.599 --> 00:30:42.200
Do you due diligence just like us in this industry,

428
00:30:42.279 --> 00:30:47.000
we're required to do do it. Yeah, due diligence on

429
00:30:47.119 --> 00:30:51.799
tax returns for I see earned income tax credit, child

430
00:30:51.920 --> 00:30:57.000
tax credits. Even when we're doing schedule C for small businesses,

431
00:30:57.279 --> 00:31:00.359
we've got to do a little bit of do diligis

432
00:31:00.440 --> 00:31:05.119
out there, and then you've got to learn how to

433
00:31:05.279 --> 00:31:09.359
manage these different challenges that you face in your business

434
00:31:10.319 --> 00:31:13.400
now some of the things that other people face, and

435
00:31:13.519 --> 00:31:20.160
especially when you are self employed out there, you need

436
00:31:20.200 --> 00:31:23.400
to be aware of things that are going to continue

437
00:31:23.440 --> 00:31:27.319
to affect you. Outside of these problems, you're going to

438
00:31:27.359 --> 00:31:31.039
deal with tax problems. Did you make your estimated tax

439
00:31:31.079 --> 00:31:34.519
payments this year? See when you jump out in a

440
00:31:34.599 --> 00:31:38.279
small business, and sometimes you may have been in business

441
00:31:38.319 --> 00:31:41.880
for a couple of years and nobody's ever really told you.

442
00:31:41.920 --> 00:31:46.640
Maybe your tax preparer doesn't communicate, the tax company that

443
00:31:46.680 --> 00:31:50.160
you're working with doesn't communicate you should be making estimated

444
00:31:50.200 --> 00:31:56.480
tax payments every year. Estimated tax payments for you, it's

445
00:31:56.599 --> 00:32:00.960
kind of like you're withholding taxes. So when you're running

446
00:32:01.000 --> 00:32:05.400
a small business self employed, you've got to make sure

447
00:32:05.519 --> 00:32:10.039
you're making your quarterly estimated tax payments. Now, when we

448
00:32:10.079 --> 00:32:12.920
do estimated tax payments, we base them off of the

449
00:32:12.960 --> 00:32:18.000
prior year tax return first and foremost, so that you're

450
00:32:18.000 --> 00:32:21.200
making sure you're paying in the minimum amount required by

451
00:32:21.240 --> 00:32:24.880
the IRS based on for twenty twenty five, it's going

452
00:32:24.920 --> 00:32:28.599
to be based on twenty twenty four's tax return. And

453
00:32:28.680 --> 00:32:32.680
then if your business is down, then we can change

454
00:32:35.039 --> 00:32:39.599
your estimated tax payment to be lower based on actual

455
00:32:40.599 --> 00:32:46.119
or maybe you're a seasonal employment and maybe you do

456
00:32:46.279 --> 00:32:48.240
most of your sales towards the end of the year,

457
00:32:48.799 --> 00:32:51.519
then we can change your estimated taxes to be follow

458
00:32:51.920 --> 00:32:55.680
how you actually earn your income. Otherwise, those are due

459
00:32:55.920 --> 00:33:01.480
pretty much evenly over the quarters. Now, if you're a

460
00:33:01.519 --> 00:33:05.359
small business and chose to be an escort, or maybe

461
00:33:05.440 --> 00:33:10.319
your LLC and choose to be an escort or an

462
00:33:10.400 --> 00:33:14.079
ink to be an escort, you will have payroll and

463
00:33:14.319 --> 00:33:17.119
you will have to pay payroll taxes in and you

464
00:33:17.160 --> 00:33:20.599
can use payroll to calculate and pay your estimated tax

465
00:33:20.640 --> 00:33:25.000
payments through your payroll as well. If you're a partnership

466
00:33:25.960 --> 00:33:29.599
LLC multi member, you're going to use guaranteed payments, but

467
00:33:29.640 --> 00:33:32.160
again you're going to have to make estimated tax payments

468
00:33:32.920 --> 00:33:39.400
personally for the income you're deriving from that LLC or

469
00:33:39.920 --> 00:33:44.440
partnership that you may belong to out there. So if

470
00:33:44.480 --> 00:33:50.759
you're avoiding self employment tax, you're avoiding those estimated tax payments.

471
00:33:51.160 --> 00:33:53.039
You're going to get penalties at the end of the

472
00:33:53.119 --> 00:33:57.559
year when you file your taxes on your tax return

473
00:33:57.680 --> 00:34:03.319
because you didn't make the proper estimated tax payments. So

474
00:34:03.799 --> 00:34:08.639
just got to remember that when you're going through and

475
00:34:08.679 --> 00:34:17.559
filing your taxes. So here's a few things that affect

476
00:34:18.159 --> 00:34:23.079
the trucking industry. So as a trucker, where you have

477
00:34:23.400 --> 00:34:26.440
W two and a ten ninety nine because you made

478
00:34:26.480 --> 00:34:34.119
the transition midyear from employee to independent contractor, or maybe

479
00:34:34.159 --> 00:34:38.320
you're part time employee of a company and an independent

480
00:34:38.360 --> 00:34:42.599
contractor at the same time, you've got to file both

481
00:34:42.639 --> 00:34:47.199
of those documents as part of your ten forty. Your

482
00:34:47.360 --> 00:34:50.599
W two's of course, and your ten ninety nine's on

483
00:34:50.679 --> 00:34:55.760
schedule CEE. A lot of times we see drivers that

484
00:34:56.039 --> 00:35:02.880
move from being a employee driver company driver to a

485
00:35:03.000 --> 00:35:05.440
self employed driver and they forget they had the W

486
00:35:05.519 --> 00:35:10.119
two at the beginning of the year. Sometimes those things

487
00:35:10.119 --> 00:35:12.400
get overlooked, and you don't want to overlook those things

488
00:35:12.400 --> 00:35:16.320
and make sure if you're talking with somebody, you have

489
00:35:17.440 --> 00:35:22.000
those items covered on your tax return. And again, if

490
00:35:22.039 --> 00:35:24.719
you're a trucker, can get ahold of trucker tax tools.

491
00:35:25.599 --> 00:35:29.920
Let us help you save you money. Go to Trucker

492
00:35:30.000 --> 00:35:32.960
Tax tools dot Com. We'll give you a free consultation

493
00:35:34.239 --> 00:35:37.760
and also a free guide and tools that you've help

494
00:35:37.840 --> 00:35:42.280
you not worry about your taxes again. But if you

495
00:35:42.320 --> 00:35:45.079
want that free consultation and you want to talk about

496
00:35:45.079 --> 00:35:49.039
the low cost trucker bookkeeping, call today at eight seven

497
00:35:49.159 --> 00:35:55.039
seven nine nine six six nine nine six two four

498
00:35:55.199 --> 00:35:58.840
seven seven eight seven seven nine six six two four

499
00:35:58.920 --> 00:36:04.000
seven seven. Get in there and call us today when

500
00:36:04.039 --> 00:36:06.039
we come back. Right after this, we're going to talk

501
00:36:06.079 --> 00:36:13.360
about another big mistake small businesses make choosing c corps

502
00:36:13.519 --> 00:36:16.360
as corps or schedule see and we'll talk about that

503
00:36:16.440 --> 00:36:17.280
right after the break.

504
00:36:18.960 --> 00:36:22.599
We have only scratched the surface of today's show. Please

505
00:36:22.639 --> 00:36:25.880
stand by as Barry G. Fowler will be right back

506
00:36:26.000 --> 00:36:31.800
with tax talk for you. As an owner operator, you

507
00:36:32.039 --> 00:36:35.480
already spend too much time away from your family. Stop

508
00:36:35.559 --> 00:36:39.360
spending time doing payperwork. Go to Trucker tax toools dot

509
00:36:39.400 --> 00:36:44.280
com a solution filled specifically for truckers. Trucker tax tools

510
00:36:44.320 --> 00:36:50.519
dot Com makes your life run smoothly. Let's get back

511
00:36:50.559 --> 00:36:54.480
to tax stock for you with more tax talk once again.

512
00:36:54.960 --> 00:36:57.480
Here's your host, Barry G. Foller.

513
00:37:02.039 --> 00:37:06.239
Hey, you know we deal with small businesses, you know,

514
00:37:06.400 --> 00:37:10.320
all across the country. And you know, we see this

515
00:37:10.400 --> 00:37:14.719
whether you're in trucking industry, whether you're self employed, no

516
00:37:14.719 --> 00:37:19.239
matter what kind of small business you're running, we see

517
00:37:19.239 --> 00:37:23.599
this mistake quite often. And you know, we see CPAs,

518
00:37:23.719 --> 00:37:28.880
we see tax accountants, we see bookkeeping firms, we see

519
00:37:29.239 --> 00:37:35.639
tax repairers talking about the benefits of C corp or

520
00:37:35.639 --> 00:37:43.360
an escorp and making those elections for your business. You know,

521
00:37:43.440 --> 00:37:47.239
we like to see a six to twelve month history

522
00:37:47.320 --> 00:37:50.159
before we tell you, hey, this is where you should

523
00:37:50.320 --> 00:37:56.480
should be. See jumping to a C corp escort, whether

524
00:37:56.480 --> 00:37:59.880
you're an LLC, whether you're an inc. Right off the

525
00:38:00.039 --> 00:38:03.159
about adds a lot of administrative costs. You've now got

526
00:38:03.159 --> 00:38:07.079
to do payrom You've got to have a reasonable salary

527
00:38:07.079 --> 00:38:12.679
for any owner that's working in the business. And that

528
00:38:12.800 --> 00:38:15.679
six or twelve month history for your business helps us

529
00:38:15.719 --> 00:38:19.920
evaluate where your businesses, where it's going, and what this

530
00:38:20.039 --> 00:38:24.760
kind of savings you would have going and being a

531
00:38:25.199 --> 00:38:29.760
S corp or even a C corp, or even maybe

532
00:38:29.760 --> 00:38:33.119
adding your wife or husband who your LLC and being

533
00:38:33.159 --> 00:38:37.760
a multi MEMBERLLC, we wouldn't look at that because there's

534
00:38:37.800 --> 00:38:43.480
sometimes there's no reason to have those extra administrative costs

535
00:38:43.519 --> 00:38:50.159
to your business. And so you know, what we want

536
00:38:50.199 --> 00:38:52.800
to look at is what your net income is, what

537
00:38:52.920 --> 00:38:57.599
your gross income is, how you're operating this business to

538
00:38:57.639 --> 00:39:04.159
determine is there enough going to a escorp for you

539
00:39:04.400 --> 00:39:08.559
as an owner. We also look at it is there

540
00:39:08.599 --> 00:39:11.360
some benefit to go to a se corp. And I'll

541
00:39:11.360 --> 00:39:13.320
tell you now, most of the time, we're not going

542
00:39:13.400 --> 00:39:17.280
to recommend anybody become a sea corp unless you're looking

543
00:39:17.320 --> 00:39:20.960
for a lot of extra benefits that you're going to

544
00:39:21.480 --> 00:39:25.440
give yourself as a business owner. So one of the

545
00:39:25.440 --> 00:39:29.360
ways we use s corps is you get a reasonable salary,

546
00:39:30.119 --> 00:39:34.119
then we throw out a huge benefit package to where

547
00:39:34.159 --> 00:39:38.119
the company's paying for your insurance, the company's paying for

548
00:39:39.400 --> 00:39:44.400
your deductibles, the company's paying for your iras or four

549
00:39:44.480 --> 00:39:48.559
oh one k's, and they're making a huge contribution into it.

550
00:39:49.559 --> 00:39:54.639
And you know, maybe that is the way we go

551
00:39:54.679 --> 00:39:58.639
through and do this. But you've got to remember, if

552
00:39:58.639 --> 00:40:01.920
you're taking distributions from a sea corp, those are considered

553
00:40:02.000 --> 00:40:05.679
dividends and those are after tax. So your company pays

554
00:40:06.920 --> 00:40:10.800
it's tax and then it makes a dividend to you

555
00:40:10.920 --> 00:40:13.400
and then you pay tax on that as well, so

556
00:40:13.519 --> 00:40:17.400
double taxation gets out there. So it is not likely

557
00:40:17.480 --> 00:40:20.199
we throw a sea corp out there. Most of the time,

558
00:40:20.320 --> 00:40:25.880
it's going to be an es corp or possibly AC

559
00:40:28.519 --> 00:40:31.320
multi member if you're married, es corp. If you're not,

560
00:40:31.480 --> 00:40:36.800
there's some advantages to doing that. Something else that we

561
00:40:36.840 --> 00:40:39.800
see happening in the trucking industry but also happens in

562
00:40:39.880 --> 00:40:46.559
other self employed industries, is taking the mileage deduction incorrectly. Now,

563
00:40:46.599 --> 00:40:49.480
your sum light tractor, you're driving it down the road,

564
00:40:49.519 --> 00:40:52.360
you're paying for fuel, you're getting your depreciation, you're paying

565
00:40:52.400 --> 00:40:56.400
your insurance. We don't take mileage deductions. We take actual

566
00:40:56.440 --> 00:41:00.519
expenses for that tractor. Now, your personal view that you

567
00:41:00.639 --> 00:41:04.519
use for business to go pick up supplies parts for

568
00:41:04.599 --> 00:41:09.840
the truck, any business use of it. We tell you

569
00:41:09.920 --> 00:41:14.639
to keep track of that mileage and therefore we can

570
00:41:14.679 --> 00:41:19.000
take that mileage deduction for you as an owner operator

571
00:41:19.679 --> 00:41:24.679
on schedule C. Now it's small business. Sometimes you're leasing

572
00:41:24.960 --> 00:41:27.800
a car or truck that's used directly in the business

573
00:41:27.800 --> 00:41:32.360
and only for business. Yes, that may be a good

574
00:41:32.559 --> 00:41:38.159
vehicle to take actual expenses on. If you're using a

575
00:41:38.199 --> 00:41:41.800
personal vehicle in business, then maybe it's taking the mileage

576
00:41:41.840 --> 00:41:46.360
deduction and not actual expenses because you may be using

577
00:41:46.400 --> 00:41:50.599
it more for personal use than business use. So we

578
00:41:50.719 --> 00:41:52.719
kind of weigh this out and got to look at

579
00:41:52.719 --> 00:41:56.400
it and decide which is the right way to go.

580
00:41:59.119 --> 00:42:06.360
Another big mistake we see in business when you go

581
00:42:06.400 --> 00:42:10.639
into business with somebody else as a partner, as a

582
00:42:10.719 --> 00:42:16.840
multi MEMBERLLC, and you're operating without a partnership agreement. Now,

583
00:42:16.840 --> 00:42:18.599
I'm not a lawyer, never wanted to be a lawyer.

584
00:42:18.599 --> 00:42:20.800
Don't charge legal fees, but this is a good time

585
00:42:20.840 --> 00:42:25.760
to get an attorney involved, get them to write a

586
00:42:26.159 --> 00:42:33.719
solid partnership agreement. What does a partnership agreement do? It

587
00:42:33.840 --> 00:42:42.880
basically breaks down responsibilities of the company, responsibilities of the

588
00:42:42.960 --> 00:42:49.440
partners in the business, and will help take care of

589
00:42:49.840 --> 00:42:55.320
compensation issues of the partnership because it gets settled in

590
00:42:55.519 --> 00:43:01.800
this agreement when it's written correctly, helps you have a

591
00:43:01.920 --> 00:43:09.599
solid foundation a good relationship between all partners, and all

592
00:43:09.719 --> 00:43:18.599
partners knowing what they've gotten into from day one hopefully

593
00:43:19.440 --> 00:43:25.039
solves the fights and disagreements by deferring to what you

594
00:43:25.159 --> 00:43:32.320
guys agreed to in this partnership agreement. I have seen many,

595
00:43:33.800 --> 00:43:38.000
many partnerships fail kind of the same as I've seen

596
00:43:38.119 --> 00:43:46.719
many good marriages fail. Partnerships out there because somebody is

597
00:43:46.760 --> 00:43:51.599
working harder in the business than the other person can

598
00:43:51.880 --> 00:43:59.159
cause great dissatisfaction between partners and can cause a huge

599
00:43:59.320 --> 00:44:08.519
breakup in your entity and impact your business and your livelihood.

600
00:44:09.280 --> 00:44:14.880
I've seen a company who was hugely profitable. One person

601
00:44:15.000 --> 00:44:19.639
was completely upset because he did all the sales and

602
00:44:19.760 --> 00:44:23.719
felt like he wasn't being compensated fairly for the work

603
00:44:23.800 --> 00:44:27.800
he was doing bringing in and all the business. The

604
00:44:27.920 --> 00:44:31.880
other partner was handling all the back end side, the accounting,

605
00:44:31.920 --> 00:44:39.719
the bookkeeping, the financing, the moving of goods to meet

606
00:44:39.760 --> 00:44:42.760
the sales over here. And the sales guy decided he

607
00:44:42.800 --> 00:44:47.000
could do it all himself without this partner because he

608
00:44:47.039 --> 00:44:48.960
felt like he was giving him way too much money

609
00:44:48.960 --> 00:44:55.039
for what he wasn't achieving. We couldn't save that partnership

610
00:44:56.440 --> 00:44:59.960
out there. The sales guy up buying the other guy out.

611
00:45:01.480 --> 00:45:03.440
The other guy set up his own company was just

612
00:45:03.480 --> 00:45:06.800
as successful. The sales guy, not having the background and

613
00:45:06.880 --> 00:45:12.840
financing the back was struggling, But he could have solved

614
00:45:12.840 --> 00:45:20.119
this by changing the way the compensation was. The guy

615
00:45:20.159 --> 00:45:24.360
that had the finance business. Yes he was successful financing

616
00:45:24.400 --> 00:45:26.480
and continuing to run on a business, but it was

617
00:45:26.519 --> 00:45:28.760
nowhere near as good as the business that the sales

618
00:45:28.760 --> 00:45:33.719
guy in and so there was a negative impact out there.

619
00:45:34.079 --> 00:45:38.559
If it would have just changed compensation, maybe maybe that

620
00:45:38.599 --> 00:45:46.039
would have helped alleviate the problems between one business partner

621
00:45:46.079 --> 00:45:49.679
and the other. Saying maybe in a trucking business, one

622
00:45:49.719 --> 00:45:51.559
guy's out there really hooking it in a truck and

623
00:45:51.599 --> 00:45:53.440
the other guy's dealing with this stuff in the back

624
00:45:53.519 --> 00:45:56.360
office and getting things run, but he's at home with

625
00:45:56.400 --> 00:46:00.960
his family. The truck driver itself isn't happy because he's

626
00:46:01.000 --> 00:46:04.679
out there hooking it and the other guy sitting at home.

627
00:46:06.880 --> 00:46:09.039
So sometimes you got to figure out ways to level

628
00:46:09.039 --> 00:46:12.639
the playing field to make things better between the two.

629
00:46:12.960 --> 00:46:16.159
Save in any other business that's out there, make sure

630
00:46:16.159 --> 00:46:18.519
you have a partnership agreement, make sure you have things

631
00:46:18.519 --> 00:46:24.840
in place. You know, and I always love this one.

632
00:46:27.719 --> 00:46:30.599
You know, we all go to meetings, or maybe we're

633
00:46:30.679 --> 00:46:34.400
all get guess, or maybe we're a truck driver and

634
00:46:34.480 --> 00:46:40.920
getting fuel, but listening to truck stop bar stop, wherever

635
00:46:41.000 --> 00:46:44.119
you may be. You go to those truck stop and

636
00:46:44.159 --> 00:46:46.159
you listen to the accountants at the fuel pump, you

637
00:46:46.199 --> 00:46:48.920
listen to the at the bar, you listen to the

638
00:46:48.960 --> 00:46:56.559
bar guy accountant who thinks they know everything, gives you

639
00:46:56.679 --> 00:47:04.960
their recommendations of Hey, this is what you know. It

640
00:47:05.039 --> 00:47:09.519
isn't always correct. It gets people more in trouble. You know,

641
00:47:09.599 --> 00:47:12.760
I've heard it. Hey, Johnny over here that I met

642
00:47:12.800 --> 00:47:17.800
at at Pilot Flying Jay told me he hasn't paid

643
00:47:17.840 --> 00:47:23.960
taxes in five years. Has he done his taxtic? Well,

644
00:47:23.960 --> 00:47:29.639
I don't know, but he hasn't paid. Nobody's trying to collect. Hey,

645
00:47:29.639 --> 00:47:34.920
it doesn't make it right. You know, these guys and

646
00:47:35.000 --> 00:47:37.039
what you hear at the at the fuel pump, at

647
00:47:37.079 --> 00:47:41.239
the bar, when you're talking to somebody, they're not the

648
00:47:41.280 --> 00:47:45.599
experts in this industry. They're not the experts in your industry.

649
00:47:46.039 --> 00:47:48.840
Find the expert in your industry. Find the Enrold agent,

650
00:47:48.960 --> 00:47:53.519
find the CPA, Find us at Trucker Tax Tools, your

651
00:47:53.559 --> 00:47:58.840
truck or CFOs that know trucking inside and out. Hey,

652
00:47:58.840 --> 00:48:01.639
if you have a filed and five years and that's

653
00:48:01.679 --> 00:48:07.559
a good time to call taxation solutions, get tax relief.

654
00:48:08.199 --> 00:48:11.079
Stop the irs at eight eight eight nine three zero

655
00:48:11.119 --> 00:48:15.000
one zero one six again eight eight eight nine three

656
00:48:15.119 --> 00:48:17.159
zero one zero one six and put a stop to

657
00:48:17.920 --> 00:48:21.639
tax problems with some tax relief. Just because you listen

658
00:48:21.679 --> 00:48:26.719
to the bar stop accountant, the bar stop CPA, the

659
00:48:26.760 --> 00:48:31.159
bar stop enrolled agent, the truck stop CPA, or accountant

660
00:48:31.239 --> 00:48:35.880
or bookkeeper, they don't know what they're talking about. People

661
00:48:36.000 --> 00:48:43.440
that are experts in the industry absolutely do. That's where

662
00:48:43.960 --> 00:48:50.440
tax relief. Getting the right information in your hands as

663
00:48:50.559 --> 00:48:55.599
a small business owner is important. Hey, these podcasts over

664
00:48:55.639 --> 00:49:01.079
at Tax Talk for You are there for you every day.

665
00:49:02.039 --> 00:49:04.800
Jump on Tax Talk for You. Get to the podcast

666
00:49:04.920 --> 00:49:07.159
that means something to you, whether it's talking about estimated

667
00:49:07.199 --> 00:49:11.840
tax payments, talk about self employment, tax business planning as

668
00:49:11.920 --> 00:49:19.440
a self employed individual are all important to you. Hey,

669
00:49:19.440 --> 00:49:22.000
if you got a friend or family member that needs

670
00:49:22.000 --> 00:49:24.880
information as a business owner, as somebody that owes taxes,

671
00:49:26.239 --> 00:49:29.119
get them over to Tax Talk for You. Subscribe to us,

672
00:49:29.800 --> 00:49:36.480
let us help you help yourself and save your business,

673
00:49:36.840 --> 00:49:40.119
and we're always here every Monday, MW four CY Radio

674
00:49:40.800 --> 00:49:45.639
ten am Eastern time. Join in. Get this out to

675
00:49:45.639 --> 00:49:47.639
your friends and family. If you're talking to Nick a

676
00:49:47.679 --> 00:49:51.320
Field Pump, give them us at tax talkfor You dot

677
00:49:51.320 --> 00:49:54.559
com and we'll be right here next week ten am

678
00:49:54.639 --> 00:49:57.920
Eastern time. Thanks, have a god blessed and glorious week.

679
00:50:00.440 --> 00:50:03.599
Are you an individual or business that wants to understand

680
00:50:03.679 --> 00:50:07.039
taxes and how they affect you. Are you looking for

681
00:50:07.119 --> 00:50:12.519
specific tax advice for self employed business owners and truckers.

682
00:50:13.079 --> 00:50:17.159
Are you behind on taxes and your bookkeeping? Are you

683
00:50:17.280 --> 00:50:21.280
dealing with dirs and ready to have some relief, then

684
00:50:21.360 --> 00:50:25.039
you need Tax Talk for you, hosted by tax and

685
00:50:25.119 --> 00:50:29.880
trucker expert Barry G. Fowler EA. Tune in ten am

686
00:50:30.079 --> 00:50:33.599
Eastern time every Monday right here on W four CY

687
00:50:33.760 --> 00:50:37.119
Radio and Talk for TV. Don't forget to check this

688
00:50:37.320 --> 00:50:41.840
and past episodes at tax talkforyu dot com. See you

689
00:50:41.920 --> 00:50:49.920
next week at W fourcy dot com